Aspen Technology (NASDAQ:AZPN) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Friday morning. The firm issued a hold rating on the technology company’s stock.

Several other analysts also recently issued reports on AZPN. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler boosted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Bank of America upped their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Loop Capital lifted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.00.

Aspen Technology Trading Up 0.9 %

AZPN opened at $250.85 on Friday. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $251.13. The stock has a fifty day moving average price of $238.78 and a 200 day moving average price of $217.60. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of -432.50, a PEG ratio of 2.83 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The business had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business’s revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, sell-side analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. The trade was a 10.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Aspen Technology

Institutional investors have recently modified their holdings of the company. Anchor Investment Management LLC acquired a new position in Aspen Technology in the third quarter worth about $77,000. SkyView Investment Advisors LLC increased its holdings in shares of Aspen Technology by 2.5% during the third quarter. SkyView Investment Advisors LLC now owns 3,188 shares of the technology company’s stock worth $761,000 after buying an additional 77 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Aspen Technology by 28.0% in the third quarter. Toronto Dominion Bank now owns 3,889 shares of the technology company’s stock valued at $929,000 after acquiring an additional 851 shares during the last quarter. Barclays PLC boosted its holdings in shares of Aspen Technology by 23.6% in the 3rd quarter. Barclays PLC now owns 79,418 shares of the technology company’s stock worth $18,966,000 after acquiring an additional 15,176 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Aspen Technology by 2.2% in the 3rd quarter. MML Investors Services LLC now owns 2,838 shares of the technology company’s stock worth $678,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

About Aspen Technology

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.